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Form 16 part-b for salaried employee

Soumya (Senior Accounts Executive) (235 Points)

21 June 2016

Dear All,

Employees asking to me to provide them "Form no 16 part - B" but our company is not yet audited.

What should i do please help me and suggest me.

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4 Replies

subhash kumar jha (PROFESSION) (445 Points)
Replied 21 June 2016

Wheather your company has audited or not doesn't matter. U will have to provide part b according to calculation u have made in calculation of tax amount.

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CMA Poornima Madhava (CMA) (13112 Points)
Replied 21 June 2016

I agree with Subhash. Further, the last date to issue form 16 is 30th May. Part A of form 16 to be downloaded from TRACES and part B shall be prepared by the employer.

CA Harshal Totla (Chartered Accountant) (2229 Points)
Replied 21 June 2016

Agree with the above replies..

Vishal Goel (Chartered Accountant) (1688 Points)
Replied 01 July 2016

Employer can decline to issue Form 16 in case there is no deduction of tax at source.It is clear from a bare reading of section 203 of the I T Act and the relevant rule 31 of IT Rule .

Liability to give a certificate of tax deduction is given in Section 203 of the I T Act .For employer, specific provision is given in sub-section 2 of section 203 of the I T Act.